The Russian government won't finance the preparations for the 2014 Winter Olympics in Sochi this year and next because there is enough financial support from private investors, a top government official said Tuesday.
Alexander Zhukov, the deputy prime minister overseeing preparations in the Black Sea resort, said the funds raised by Sochi's local organizing committee exceed the government's expectations.
"Therefore, we have decided today that the organizing committee will not receive subsidies from the federal budget in 2009-2010," he said in televised comments.
He said the move will save the government 2.7 billion rubles ($88 million) …
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